- Second quarter net loss of USD 64 million following decision to enter the new tonnage tax system at a total cost of USD 42 million
- First six months net loss of USD 68 million, EBITDA of USD 87 million and EBIT USD 9 million
- Time-charter results per day increased by 2% compared to first quarter
- Stable results from tank terminals
- Hedging of bunkers and currency increased EBITDA by USD 9 million for second quarter 2010
Attached please find report of the First Six Months Result 2010
The results will be presented Thursday 19th of August 2010 at 14:00 CET by President/CEO Jan A. Hammer and Senior Vice President/ CFO Haakon Ringdal. The presentation will be held live at DnB NOR at Stranden 21, Aker Brygge. The presentation will be in Norwegian.
There will be an opportunity to ask questions. The presentation will also be made available on www.odfjell.com.
For more information: President/CEO Jan A. Hammer, ph. + 47 55 27 46 11, mobile: + 47 908 39 719 or e-mail: jan.hammer@odfjell.com or Senior Vice President/CFO Haakon Ringdal, ph. + 47 55 27 45 63, mobile: + 47 995 83 620 or e-mail: haakon.ringdal@odfjell.com
The Odfjell Group is a leading participant in the global market of the seaborne transportation and storage of chemicals and other speciality bulk liquids. The Odfjell fleet comprise about 90 ships, trading both globally and regionally. The tank terminal division consists of nine fully or partially owned tank terminals and nine associated tank terminals strategically located. The Odfjell Group is headquartered in Bergen, Norway and has more than 20 offices world wide. Odfjell has about 3 800 employees and an annual gross revenue of about USD 1.3 billion.
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